Dogecoin has recently skyrocketed, managing to rise 38% in just seven days. This seems to be a matter of demand related to commemorative factors, which is somewhat unpopular amid the trade tensions between the United States and China.
Now, multi-mold is performing well, and according to analysts, this might lead to an 180% growth in the eighth ranking in the market.
Dogecoin up 350%?
Dogecoin's current behavior is at $0.2215 per coin. According to Trader Tardigrade and Javon Marks, this situation is likely to change soon after Dogecoin managed to create what is known as a MacD Bullish Crossover on its candlestick chart.
Based on this pattern, Trader Tardigrade's target for each Dogecoin is $1, which equates to over 350%. This would be very colorful for Doge, especially in the short term. This increase may require a tweet from Elon Musk. It seems that it’s not just about obtaining Dogecoin alone. Similar explosions in the chart increased by 180% between January and March of 2024, while a 385% growth was recorded before September to December 12, 2024.
Javon Marks' optimism is slightly lower, suggesting an approximately 180% increase for Dogecoin to $0.6533.
Strong On-Chain Data
The recent rise of Dogecoin is supported by solid data from the blockchain. For example, on DataPlatform CryptoQuant, they noted that buyers currently dominate the market, at least in the past 90 days of our size.
According to analysts from Cryptocurrency Quant, this indicates that buyers are more aggressive than sellers, a pattern we last saw in November 2024. This eventually led to a 385% explosion for Dogecoin, with the explosion speed at $0.48 in Q4 2024.
